Category: Latest Stories

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Latest StoriesRegulatory

Mumbai Directors Arrested for ₹10 Crore NRI Fraud

MUMBAI: The Economic Offences Wing (EOW) has arrested two directors of a construction firm accused of defrauding an NRI of ₹10.5 crore. Vishal Shah and Sukhpreet Kalsi, partners at Ajanta Airawat Infrastructure LLP, have been remanded to judicial custody by a magistrate’s court. Rahul Gupta, the complainant, stated that he invested ₹1.5 crore in 2012 through his company into the accused’s firm, which acquired land in Bhandup for a similar amount. After retiring from the partnership in February 2016, Gupta claims he lent ₹6 crore to the company, which has yet to be repaid. A settlement agreement was made in…

Latest StoriesRegulatory

Lucknow extends civic office hours for tax deposits until March 31

LUCKNOW: The Lucknow Municipal Corporation has extended the operating hours of its zonal offices to facilitate the collection of commercial and house taxes before the financial year concludes. Officials announced that all zonal offices will be open from 10 AM to 6 PM on Sundays. On March 30 and 31, they will operate from 10 AM to 11 PM, with a special effort to recover pending house tax dues on these days. The civic body encourages taxpayers to settle their dues before March 31 to avoid incurring interest charges. Payments made after the deadline will attract a 12% interest fee…

Latest StoriesResidential

Housing Sales Fall 7% in Q1 2026 Amid Global Uncertainty

NEW DELHI: Housing sales in India’s top seven cities saw a sequential decline of 7% in the January-March quarter of 2026, influenced by global uncertainties. Nonetheless, demand remained robust year-on-year, according to Anarock Research. A total of 1,01,675 units valued at ₹1.51 lakh crore were sold in Q1 2026, compared to 1,08,970 units worth ₹1.60 lakh crore in the previous quarter. Year-on-year, sales increased by 9% from approximately 93,280 units sold in Q1 2025, while in value, sales dropped 5% quarter-on-quarter but climbed 6% year-on-year. Geopolitical tensions and rising input costs contributed to reduced buyer sentiment during this period, resulting…

Latest StoriesRegulatory

Bombay HC: Banks Can’t Claim Priority on PMLA-Attached Properties

NAGPUR: The Nagpur bench of the Bombay High Court has delivered a landmark ruling affecting financial institutions and the Enforcement Directorate (ED). The court determined that banks’ recovery laws cannot supersede the Prevention of Money Laundering Act (PMLA), highlighting the government’s priority action against ‘proceeds of crime’. A division bench consisting of Justices Mukulika Jawalkar and Nandesh Deshpande annulled an order from the appellate tribunal that permitted banks, including HDFC Bank and Punjab National Bank, to enforce secured interests over properties seized by the ED in a money laundering case involving alleged misconduct in coal block allocation. The court declared…

IndustryLatest Stories

Rushed Opening? Wayanad Township Project Slows Down

KOZHIKODE: None of the recipients have moved into the initial set of 178 houses designated for survivors of the 2024 Wayanad landslides. This lack of occupancy stems from ongoing work, inciting a political uproar. The opposition has criticized the government for launching the project before its completion, labeling it a pre-election tactic. Chief Minister Pinarayi Vijayan handed over the keys to the homes under the model township initiative at Elstone Estate in Kalpetta on March 1. During the inauguration, the Chief Minister stated that the project was designed to ensure all affected individuals would be rehabilitated before the monsoon season.…

Latest StoriesRegulatory

Bombay HC Report on MHADA 79A: 13K Unsafe Mumbai Buildings at Risk

MUMBAI: In a crucial update that may shape the future of redevelopment across the city, a committee established by the Bombay High Court has delivered its findings on March 5, 2026, examining contentious notices issued under Section 79A of the MHADA Act. The court is poised to hear this matter and decide if the halted redevelopment of numerous unsafe buildings can continue, impacting over 13,000 ageing structures and countless residents living in hazardous conditions. This comes just ahead of the looming monsoon season. The heart of the issue lies with Section 79A, a legal provision enacted in 2020 to expedite…

Latest StoriesRegulatory

Hyderabad Civic Body Locks 100+ Properties for Tax Dues

HYDERABAD: As the financial year nears its conclusion, the Greater Hyderabad Municipal Corporation (GHMC) is intensifying its actions against long-time property tax defaulters. To date, over 100 significant commercial properties have been sealed, with the GHMC aiming to recover hundreds of crores in unpaid taxes. The GHMC reports that over 30,000 commercial entities—spanning luxury hotels, retail chains, and small shops—have neglected to settle their tax dues. The civic body is now concentrating on the most egregious offenders, sealing their premises to facilitate payment. This crackdown follows numerous ignored notices issued over the years. Notable cases include the Katriya Hotel in…

Latest StoriesResidential

Pune Groups to Urge Police for FIRs Against Builders Violating Water Rules

PUNE: Citizen groups and housing federations in Pune and surrounding areas are planning to file FIRs against developers who have breached water supply affidavits when seeking building permits. The initiative seeks to hold builders accountable for failing to deliver the promised water infrastructure, which has left residents dependent on private tanker services. This decision emerged from a water supply review meeting on Friday, chaired by divisional commissioner Chandrakant Pulkundwar. The meeting was held following directives from the Bombay High Court (PIL 126/2023) aimed at tackling the escalating water crisis in the metropolitan region. Pune Municipal Corporation (PMC) officials confirmed that…

Latest StoriesResidential

Durg Leads PMAY-Gramin, Bijapur Remains Last

RAIPUR: Durg has maintained its lead in the latest performance report of the Pradhan Mantri Awas Yojana-Gramin (PMAY-G). The district achieved an average performance score of 89.5% across four essential indicators, followed by Surajpur and Raipur in second and third places, respectively, retaining their prior standings. Durg’s collector, Abhijit Singh, stated that consistent efforts are key to the successful implementation of the scheme. Dhamtari has advanced to fourth place, moving ahead of Balod, which has fallen to fifth. Koriya district saw significant improvement, rising three ranks from 17th to 14th and achieving the highest sanction rate in the state at…

Latest StoriesResidential

1,000+ Flats for Urban Poor in Prayagraj Under PMAY

PRAYAGRAJ: The Prayagraj authorities are making strides to enhance housing for the urban poor by planning the construction of over 1,000 flats under the Pradhan Mantri Awas Yojana (PMAY) Phase II. Led by the Prayagraj Development Authority (PDA), efforts are underway to identify land which will be provided by the municipal corporation and district administration. The PDA has engaged with relevant departments to expedite the process. Several potential locations have been earmarked for the initiative, including a 4,000 sqm plot near Dhobighat, around four bighas in Peepal Gaon, and approximately 3,000 sqm in the Khuldabad area. Additionally, discussions are in…